Bankrupt crypto lender Celsius Network will unstake its existing holdings of Ethereum in order to “ensure ample liquidity” when distributing assets to its creditors.

In a tweet, Celsius Network announced that it “has started the process of recalling and rebalancing assets,” in preparation for asset distributions.

It added that it would unstake its existing ETH holdings, “to offset certain costs incurred throughout the restructuring process,” noting that its staked ETH has “provided valuable staking rewards income to the estate.”

Per data from Nansen, Celsius accounts for 32% of ETH awaiting withdrawal—some 206,300 ETH, worth over $466 million at current prices.

Celsius Go to Source to See Full Article
Author: Stephen Graves

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